Why do I need to provide my Social Security Number?
Stripe, our credit card payment processor helps us disburse funds to you. Any organization that sends funds to individuals, businesses, etc., is required to collect and verify information about people, known as “Know Your Customer” (or KYC) checks. To perform these checks, Stripe needs to gather certain information so they can verify your identity. Stripe first attempts to verify you off of the minimum requested information (legal name, date of birth (DOB), and last 4 of your Social Security Number (SSN)).
Why am I being asked for my photo ID?
Sometimes Stripe needs to collect a little more information about a customer to fulfill these KYC checks, which is why we'll ask for your government issued ID. We often find that this can be from a recent name change or a typo.
One quick thing you can do is double check that all the information you've provided is entered exactly as it is with the IRS and Social Security Administration.
This verification is required for the safety of you, your parents, and all financial partners involved and must be completed in order to continue processing money through the Wonderschool payments platform. If we are not able to successfully verify, deposits to your account will be put on hold until we are able to do so.
Additional information about our payment processor, Stripe can be found here.